What Is The Difference Of A Living Will And Medical Power Of Attorney?
Video Summary
What is the difference between a living will and a medical power of attorney? The living will, which is really a dying decoration, authorizes direct that life support be discontinued in the event of three different circumstances. One is if you have a terminal condition, two, if you have an end state’s condition, and three, if you have a permanent vegetative state. This is when you’re unconscious and you’re laying there on a ventilator. The medical community or your doctors make the determination if you have one of those three conditions and then they turn to who you designate and ask permission or direction to discontinue life support. A medical power of attorney, also known as a designation of a healthcare surrogate is not whenever you’re dying. It is whenever you may need medical treatment and you designate who you’d like to make that decision. It further authorize the release of your medical information or a HIPAA waiver. And so that is the difference. One is to keep you alive and authorize medical procedure and allow someone to access your medical records, whereas a living will or a dying declaration covers whenever you are in the twilight of your life and doesn’t look like you’re going to recover. So if you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Wills
What Is A Testamentary Trust
Video Summary
What is a testamentary trust? A testamentary trust is found in a will. That’s why they call it testamentary, and that the terms of the trust are spelled out in the will, and the trust does not take effect until after you die. That is versus setting up a revocable trust while you’re still alive, transferring all the assets into the name of your trustee while you’re alive, and as many times set up to avoid probate. If you have a testamentary trust, your will has to be admitted to probate, and then the testamentary trust is established and all the assets that were in your name at the time of your death passed to the trustee under the testamentary trust. The testamentary trust spells out who the beneficiaries are and how the trust is to be distributed. So, if you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Trusts, Videos, Wills
What Do I Need To Create A Medical Directive
Video Summary
Do I need to set up a medical directory directive? Yes, you should. The medical directive has a HIPAA waiver in it, which authorizes the hospital to release your information to a third party. Without this, without a HIPAA waiver, they’re not supposed to discuss your medical condition or release your records to anyone. Many times you sign this in the doctor’s office, but if you go into the hospital and you’re not able to sign these releases or a hip waiver, then they’re not supposed to discuss this with anyone. So that’s the purpose of the medical directive, is to authorize someone to be able to find out how you’re doing in the hospital, that’s a HIPAA waiver, and also access your medical records. That also allows them to make medical decisions for you if you’re unable to do so. They do not have a right to override your decisions or either verbal or written that you’ve given if you go into the hospital. So, yes, you should have a medical director, which is a designation of a healthcare cert. If you have any questions, please call me at (727) 847-2288.
- Published in Estate Planning, Videos, Wills
WHAT IS A MIRROR IMAGE WILL
Video Summary
What is a mirror image will? A mirror image will is whenever two persons name each other as the beneficiary. So,say Mary Jones says I leave everything to John Brown and John Brown in his will turns around and says, I leave everything to Mary Jones. You usually go further that says that the event that either Mary Jones dies or, he either one of ’em passes away, they name the same, alternate beneficiaries and name each other as their executors. And then depending on the circumstance, whether they name it the same alternate personal representative. So the mirror image will particularly, as far as husband and wife is concerned, but it doesn’t have to be a husband and wife. They basically name each other. And the terms of their wills are the same whenever either one of them passes away. So if you will give a call (727) 847-2288.
- Published in Estate Planning, Videos, Wills
Can I Contest the Handling of Money By My Power Of Attorney Representative
Video Summary
Can I contest the handling of money by my power of attorney representative? The answer is yes, under Florida law. The power of attorney who is now called an agent is responsible to prepare an accounting of the handling of any of your monies. I find that most of the time they do not do that, particularly if they’ve mishandled it, but certainly you can sue them for if they used the money improperly and that they have a, what they call it. They’re in a position of trust called a fiduciary relationship and they don’t use the money for your behalf or what they’re authorized to use it for. They are reliable to you for any abuses of the power of attorney. You have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Videos, Wills